News

The Ethiopian Human Rights Council, a 33-Year-Old Human Rights Organization, Suspended

The Ethiopian Human Rights Council (EHRCO), a key player in Ethiopia’s human rights advocacy for over three decades, has been ordered to suspend its operations. The suspension follows a directive issued by the Civil Society Organizations Agency on December 14, 2024, citing alleged administrative and compliance shortcomings. The directive, which was delivered to EHRCO on

December 26, 2024 • By Addis Insight

Business

Chinese EV Giant BYD Enters Ethiopian Market with Electric Vehicles

BYD, a leading Chinese electric vehicle (EV) manufacturer, has officially announced its entry into the Ethiopian market. The company unveiled its brand at a launch event in Addis Ababa, organized in partnership with Moenco, a subsidiary of Inchcape PLC, a London-based distributor specializing in premium automotive services. In a statement shared via social media, BYD

December 26, 2024 • By Addis Insight

Business

Amhara Bank Sets Sights on Investment Banking, Poised to Transform Ethiopia’s Financial Landscape

Amhara Bank is taking a bold step forward by venturing into investment banking services, signaling its ambition to play a pivotal role in Ethiopia’s emerging capital markets. This strategic move positions the bank as a key player in the nation’s financial evolution, aiming to provide tailored solutions for both businesses and individual investors. The announcement

December 25, 2024 • By Addis Insight

Business

Ethiopia Excluded from AGOA for Third Consecutive Year

The United States has announced that Ethiopia will remain ineligible for the African Growth and Opportunity Act (AGOA) benefits in 2025, marking the third consecutive year the country has been excluded from the program. The decision was confirmed in a statement released on December 21, 2024, by USTR Spokesperson Sam Michel, following the annual AGOA

December 25, 2024 • By Addis Insight

Uncategorized

Macron’s €25M National Palace Renovation: Ethiopia’s New ‘Let Them Eat Cake’ Debate

French President Emmanuel Macron’s recent visit to Addis Ababa to inaugurate the €25 million renovation of a national palace has sparked widespread controversy. Framed as an effort to preserve Ethiopia’s rich cultural heritage, the project has come under fire for its timing and priorities. In a country struggling with the devastating effects of war, famine,

December 24, 2024 • By Addis Insight

Politics

Somalia Delegation Visits Addis Ababa to Reinforce Ankara Agreement

A delegation led by Somalia’s Minister of Foreign Affairs and International Cooperation, Ali Omar, arrived in Addis Ababa today, December 14, 2017. The visit aims to strengthen commitments outlined in the historic Ankara Agreement. In a statement released on its official X page, Somalia’s Ministry of Foreign Affairs emphasized that the visit seeks to “reinforce

December 23, 2024 • By Addis Insight

Sport

Former Athlete Sileshi Sihine Elected President of Ethiopian Athletics Federation

At the 28th General Assembly of the Ethiopian Athletics Federation, a pivotal election was held to determine the federation’s president for the next four years. Sileshi Sihine, a renowned former long-distance runner and Olympic silver medalist, was elected as president, representing the Oromia region. His appointment marks a new era for Ethiopian athletics, as an

December 22, 2024 • By Addis Insight

Politics

French President Macron Arrives in Ethiopia

French President Emmanuel Macron has arrived in Addis Ababa, Ethiopia, moments ago on an official working visit. Upon his arrival at Bole International Airport, he was warmly received by Prime Minister Abiy Ahmed (PhD). Before coming to Addis Ababa, Macron made a working visit to neighboring Djibouti. Photo: Prime Minister Abiy Ahmed (PhD) welcomes French

December 21, 2024 • By Addis Insight

Business

World Bank Approves $700 Million Boost for Ethiopia’s Financial Sector

WASHINGTON, December 19, 2024 – Ethiopia’s financial system is set to receive a transformative boost following the World Bank’s approval of a $700 million credit for the Financial Sector Strengthening Project (FSSP). This ambitious initiative, funded through the International Development Association (IDA), aims to fortify the stability and resilience of Ethiopia’s financial sector, laying the

December 21, 2024 • By Addis Insight

Business

Amhara Bank Urges Local Banks to Merge Amid Foreign Banks’ Entry

On December 18, 2024, Ethiopia’s parliament ratified a landmark banking proclamation allowing foreign banks to operate within the country. This move represents a pivotal step in Ethiopia’s ongoing economic reforms, enabling foreign banks to establish subsidiaries, open branches, and acquire up to 40% ownership in local banks. The decision to open the banking sector to

December 20, 2024 • By Addis Insight